[Domestic Iron Ore Brief Review] Iron Ore Concentrate Prices in West Liaoning Expected to Fluctuate at Highs

The trading atmosphere in the domestic ore market in western Liaoning was sluggish. The current ex-factory price for 66% grade iron ore concentrates on a wet basis, excluding tax, was 750-760 yuan/mt. Mines and beneficiation plants showed a strong reluctance to budge on prices, but buyers remained cautious, mostly submitting low offers. Operations at active mines and beneficiation plants were largely normal, but inventory levels were mostly maintained at low levels, with many holding back goods and demanding higher prices. However, traders and steel mills primarily purchased as needed. Overall market transactions were relatively sluggish, but considering the recent strong performance of iron ore futures, local iron ore prices are expected to continue fluctuating at highs. [SMM Steel]